MEDP had a sharp selloff back down to $356, and has started to form a bullish rebound. The seasonality trend is bullish for this upcoming week with 11% average gains.
Entry price: $356 – $380. The price has spiked up a bit, I would try to get a low entry on a pullback sometime this week.
Sell targets: Exit by August 2. There is a bearish trend afterwards.
Stop loss: $354
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QQQ continues trading within this range, and has rebounded from the lower end of this range around $502.60. I have $510.31 and $513.40 as my resistance levels ahead, QQQ has struggled to climb above the yellow trendline since Nov. 15.
Read MoreSPY continues to trade near resistance around $601, and has already formed numerous rejections this week. SPY is currently trading above the yellow resistance line, and I would monitor to see if the price remains above $600.83. So far SPY is looking bullish and could trade above $600 for the day.
Read MoreRGTI has reached my resistance target at $3.47, and there has already been some selling at this price level. I would be cautious of a selloff here, I think RGTI likely has a pullback in the short term.
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QQQ continues trading within this range, and has rebounded from the lower end of this range around $502.60. I have $510.31 and $513.40 as my resistance levels ahead, QQQ has struggled to climb above the yellow trendline since Nov. 15.
Read MoreSPY continues to trade near resistance around $601, and has already formed numerous rejections this week. SPY is currently trading above the yellow resistance line, and I would monitor to see if the price remains above $600.83. So far SPY is looking bullish and could trade above $600 for the day.
Read MoreRGTI has reached my resistance target at $3.47, and there has already been some selling at this price level. I would be cautious of a selloff here, I think RGTI likely has a pullback in the short term.
Read More